Posted on February 6, 2017 by Donna Price, Marketing Strategist & Business Consultant
Neilson recently talked about the impact of being a socially responsible business or company, and doing good beyond your products or services and the impact that has on your bottom-line.
How do you change your business so that you are operating in a socially responsible way or having a social impact?
Your organizational values are one thing, but it is more about living those values publicly that is on the line. People are observing HOW companies practice their values. When companies take a stand that can have a direct impact on that bottom line, both positive and negative.
In the recent Neilson article, their observation is that social responsibility has moved beyond environmental issues to being a good corporate citizen. This is critical. It may be that while the new administration eases regulations, that people will demand they be observed anyway. People do not want coal companies dumping waste into their water. People do not want BIG banks investing in a pipeline that potentially can pollute waters. People are making their voices heard through social media and through the effective use of hashtags on social media.
According to Investopedia.com:
Social responsibility is the idea that businesses should balance profit-making activities with activities that benefit society; it involves developing businesses with a positive relationship to the society in which they operate. The International Organization for Standardization (ISO), emphasizes that the relationship to the society and environment in which businesses operate is “a critical factor in their ability to continue to operate effectively. It is also increasingly being used as a measure of their overall performance.”
This can have a tremendous affect both positive and negative on your business. If your company is reaching out to the community and doing good in the community, people notice. If at the same time, your company is polluting and dumping toxic waste, that is going to override all the “good” that the company is trying to do. The two are out of alignment with each other. You need to operate in alignment with your company values and those need to be in alignment with the good of the community and the world.
There are so many ways to change how your company operates and make more of a difference in your community and the world.
There was the story of Rosa’s Pizza in Philadelphia that was giving away free slices of pizza to the homeless. That story shared on Upworthy in 2015 had such an impact on people that it was shared over 800,000 times and increased their business and their giveaway tremendously.
Recently, on CBS Sunday Morning — they shared a different business model in which a local brew pub opened as a non-profit and donates money from each brew served to one of six rotating charities. Customers get to choose which charity they are supporting with their purchase.
And there are movements to change how companies operate. Chocolate — largely harvested in African with child slave labor — women around the country have been campaigning for big chocolate companies to stop buying chocolate that is not Fair Trade, and they are having an impact.
Much of the work that I have been doing over the past weeks has been to raise our social consciousness at Compass Rose Consulting and identify ways that we can improve operations as outlined above and make more of an impact on the community and the world.
These changes while still very much under construction are improvements to a foundation that already existed and is being improved and revised as the year moves ahead. I am adding resources for you that you can access — about operating in more socially responsible ways.
Category: Socially Responsible, Business Growth Tags: creating a socially responsible business, fair trade, green business, social impact business, social responsibility, socially conscious business, socially responsible business